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Introducing Non-Fungible Tokens

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IN THIS CHAPTER

Defining non-fungible tokens

Introducing NFT use cases

Understanding how NFTs work

Learning about NFTs as an investment

It all starts with Bitcoin: the original blockchain-based cryptoasset. With the latest run-up in Bitcoin prices (see Figure 1-1), the Internet is buzzing about crypto again. In fact, Google search trends within the US show that Googlers are now as curious about Bitcoin as they are about the country’s new president (see Figure 1-2), and interest in NFTs has naturally surged with the Bitcoin tide (see Figure 1-3).

With wild and exciting accounts of art-burning ceremonies and million-dollar NFTs, a mix of amazement, confusion, and even disdain surrounds this mostly “normal” but misunderstood digital creature.

In this chapter, we walk you through the basics of NFTs — what they are, how they work, and what they’re used for. The purpose is to provide you with a roadmap to decide which aspects of NFTs you would like to learn more about so that you can customize your reading selections in the chapters that follow.


From https://coincap.io/assets/bitcoin.

FIGURE 1-1: Bitcoin price chart.


FIGURE 1-2: Google Trends comparison of searches for bitcoin versus Biden.


FIGURE 1-3: Google Trends comparison of searches for nft over time.

NFTs For Dummies

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